Granite Construction Incorporated (GVA) Position Trimmed by Shaker Investments LLC OH

Shaker Investments LLC OH trimmed its position in shares of Granite Construction Incorporated (NYSE:GVA) by 7.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,000 shares of the construction company’s stock after selling 1,100 shares during the period. Shaker Investments LLC OH’s holdings in Granite Construction were worth $753,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of GVA. BlackRock Inc. increased its holdings in Granite Construction by 19,890.7% during the first quarter. BlackRock Inc. now owns 3,988,954 shares of the construction company’s stock worth $200,206,000 after buying an additional 3,969,000 shares during the last quarter. Franklin Resources Inc. increased its holdings in Granite Construction by 80.4% during the second quarter. Franklin Resources Inc. now owns 1,458,330 shares of the construction company’s stock worth $70,350,000 after buying an additional 649,831 shares during the last quarter. Voya Investment Management LLC increased its holdings in Granite Construction by 3,702.5% during the second quarter. Voya Investment Management LLC now owns 614,566 shares of the construction company’s stock worth $29,647,000 after buying an additional 598,404 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Granite Construction by 39.9% during the second quarter. Goldman Sachs Group Inc. now owns 1,131,699 shares of the construction company’s stock worth $54,594,000 after buying an additional 322,720 shares during the last quarter. Finally, Frontier Capital Management Co. LLC increased its holdings in Granite Construction by 72.1% during the second quarter. Frontier Capital Management Co. LLC now owns 708,328 shares of the construction company’s stock worth $34,170,000 after buying an additional 296,681 shares during the last quarter. Institutional investors and hedge funds own 98.85% of the company’s stock.

Granite Construction Incorporated (GVA) traded up $0.32 during mid-day trading on Friday, reaching $64.18. 316,918 shares of the company’s stock were exchanged, compared to its average volume of 327,922. The company has a market capitalization of $2,557.64, a PE ratio of 49.75, a price-to-earnings-growth ratio of 5.63 and a beta of 1.24. Granite Construction Incorporated has a 1 year low of $45.14 and a 1 year high of $64.92. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.71 and a current ratio of 1.79.

Granite Construction (NYSE:GVA) last announced its earnings results on Friday, October 27th. The construction company reported $1.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.04. The company had revenue of $957.10 million during the quarter, compared to analysts’ expectations of $905.14 million. Granite Construction had a net margin of 1.84% and a return on equity of 5.71%. Granite Construction’s quarterly revenue was up 19.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.92 earnings per share. research analysts expect that Granite Construction Incorporated will post 1.63 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Friday, September 29th were given a $0.13 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.81%. Granite Construction’s payout ratio is presently 40.31%.

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A number of equities analysts have commented on the stock. Zacks Investment Research raised shares of Granite Construction from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research report on Tuesday, October 31st. Canaccord Genuity lifted their price objective on shares of Granite Construction from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, October 30th. FBR & Co lifted their price objective on shares of Granite Construction from $63.00 to $68.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 1st. DA Davidson reaffirmed a “hold” rating and set a $65.00 price objective on shares of Granite Construction in a research report on Monday, October 30th. Finally, Cowen and Company reaffirmed a “buy” rating and set a $70.00 price objective on shares of Granite Construction in a research report on Tuesday, September 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company’s stock. Granite Construction presently has an average rating of “Buy” and an average price target of $67.00.

In other news, insider James D. Richards sold 4,000 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $55.50, for a total value of $222,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.30% of the company’s stock.

Granite Construction Profile

Granite Construction Incorporated is a heavy civil contractor and construction materials producer in the United States. The Company operates through three segments: Construction, Large Project Construction and Construction Materials. The Company operates across the nation, serving both public and private sector clients.

Institutional Ownership by Quarter for Granite Construction (NYSE:GVA)

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